• Thu. Feb 29th, 2024

Danam Health to Join Assure Holdings in Stock-For-Stock Merger, Creating a Nasdaq-Listed Pharmaceutical and Healthcare Services Giant

ByEditor

Feb 12, 2024
Assure Holdings and Danam Health Reach Agreement for Business Merger

Assure Holdings has announced that Danam Health will merge with a newly formed subsidiary of Assure in a stock-for-stock deal. This will result in Danam becoming a wholly-owned subsidiary of Assure, which is an outsourced intraoperative neuromonitoring and remote neurology services provider.

Following the merger, Assure will change its name to Danam Health Holdings Corp., and the combined company intends to continue as a Nasdaq-listed company. The merger is structured as a stock-for-stock exchange, with all outstanding equity securities of Danam being exchanged for shares of Assure common stock. Current Danam stockholders are expected to own about 90% of the combined company, while current Assure stockholders are expected to own about 10% of the combined company.

Both companies’ boards have approved the merger, which is expected to close in the second quarter. If completed, the merger will result in a combined company that will focus on pharmaceutical and healthcare services. For further information, contact Denny Jacob at denny.jacob@wsj.com.

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